Question
You have $20,000 of credit card debt with a rate of interest of 14%. How long would it take to pay it off, if you
You have $20,000 of credit card debt with a rate of interest of 14%. How long would it take to pay it off, if you make monthly payments of $501, and if you never use the card again?
Based on the correct answer to the previous question, how much total interest would you have paid?
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International Financial Management
Authors: Jeff Madura, Roland Fox
4th Edition
147372550X, 9781473725508
